HomeMy WebLinkAboutResolution 2011-18 Revolving Fund Loan Program �SOLUTION NUM$� �011-1$
A RESOLUTION OF THE CI'TY COMMISSION OF THE CITY OF WINTER
SPRINGS, FLORIDA, RELATING TO THE STATE REVOLVING FUND LOAN
PROGRAM; MAKING FINDINGS; AUTHORIZING THE LOAN
APPLICATION; ALJTHORIZING THE LOAN AGREEMENT; ESTABLISHING
PLEDGED REVENUES; DESIGNATING AUTHORIZED REPRESENTATIVES;
PROVIDING ASSURANCE; PROVIDING FOR CONFLICTS, SEVERABILITY,
AND EFFECTIVE DATE.
II HEREAS, Florida Stahztes provide for loatis to local government agencies to finance the coilstruction of
water pollurion control tacilities; and
WHEREAS, Florida Adillinistrati�re Code niles require autliorizatio�i to apply tor loans, to establish pledged
revenues, to designate an authorized representative; to provide assurances of compliance with loan program
requirernents; atld to enter into a loan agreetnent; and
WHEREAS, the City Conunission accepts the findings of the Reclaimed Water Augmentation F'roject
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WHEREAS, the City Cotnmission previously approved a Water & Wastewater Rate Study that projected the
revenues needed to constriict the Lake Jesup Reclaitned ��Vater Augmentation Froject;
WHEREAS, tlie City Coritmission approved Ordinance 2009-13 which itnplemented the rate iilcreases
necessary to support the atiticipated capital financing debt paytnents associated with the Lake Jesup Reclaicned Water
Froject; arld
WHEREAS, tlie State Re��olving Loan Fu1id loan priority list designates Froject No. WW59060 Lake Jesup
Reclaimed Water Augmentarioci Froject as eligible ior available funding; and
WHEREAS, the City of Winter Springs intends to enter into a loan agreement with the Department or'
Etivirorii�ieiltal Protection tulder the State Revolving Fui1d for project financing.
NO�'�' THEREFORE� $E IT RESOLVED by the City Commission of the City of Winter Springs,
Flot•ida as follows:
SECI'ION I—'I'�le toregoing findings are incorporated herein by reference and made a part hereot.
SECTION II — Tlle Ciry of Winter Spritigs, Florida is autliorized to apply for a loail to iinance the Project.
SECTION III — Tl�e reventies pledged for tlle repayment of tlie loan are net ���ater and sewer utility systetn
revennes aiter pay�nent oi debt service oti tlie Ciry's outstanding VVater and Sewer Bonds.
SECTION N— The �'��ayor is hereby designated as the authorized representative to provide the assurances
and committnents required by the loan application.
SECTION V— The �Vlayor is tiereby designated as the authorized representative to execute the loati
agreement ���iich will become a binding obligarion in accordance with its terrns when signed by both parties.
'I'�le Mayor is authorized to represent the Cit}� in carrying out the City's responsibilities under the loan
agreement. The �'�'Iayor is authorized to delegate responsibility to appropriate City stafi to carryout technical,
finaricial, and admiilistrative activities associated with tlle loan agreetnent.
SECTION VI — The legal authority for borrowing moneys to construct this Froject is Florida Statutes.
SECTION VII — Cont7icts. All resolutions or part of Kesolutions in conflict with any of the provisions of this
Resolution are herby repealed.
SECTION VIII — Severabilitv. Ir atly Sectioii or portion ot this Resolution proves to be invalid, unlawful, or
unconstihrtional, it shall not be held to invalidate or impair the validiry, force, or etfect ot any Secrion or part of
this Resolution.
SEC'TION IX — Erfective Dates. This Resolution shall becotne effective itnrnediately upon its passage and
adoption.
�ASSED :�ND �DOPTED BY THE CITY C0IVLVIISSION OF THE CITY OF
WI;vTER SFRINGS, FLORID�1, I:V A REGULAR MEETING ASSEMBLED ON THE 9th
DA1' OF .��11', 2011.
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DATE: MAY 9, 2011